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The 1902 $10 National Bank Note from Topeka, Kansas, bearing the Charter #3078, is a fascinating piece of American banking history. Issued during a time when the United States was expanding its financial infrastructure, this note offers a glimpse into the banking practices of the early 20th century. The National Bank Notes were part of a broader effort to stabilize the nation's currency and ensure a uniform system of banknotes across the country. The Topeka, KS note is particularly significant as it represents the economic activities of a key city in the Midwest during this era.
The design of the 1902 $10 National Bank Note is both intricate and symbolic. The obverse features a portrait of William McKinley, the 25th President of the United States, who served from 1897 until his assassination in 1901. McKinley's presidency was marked by economic growth and the strengthening of the gold standard, which makes his image particularly fitting for a note issued during this period. His portrait is encased in an oval frame, with the words "National Currency" prominently displayed above. This framing signifies the note's legitimacy and its backing by the federal government.
Adjacent to McKinley's portrait, the note bears the charter number 3078, indicating its issuance by the National Bank of Topeka, Kansas. The bank's name and location are also prominently featured, underscoring the local institution's role in the national banking system. The note includes the signatures of the bank's president and cashier, adding a personal touch and a level of authenticity to the currency. The denomination "Ten Dollars" is printed in bold, making the note's value clear to all who used it.
The reverse side of the 1902 $10 National Bank Note showcases an elaborate vignette featuring an allegorical figure of Columbia, representing American liberty and progress. She is depicted holding a sword and shield, symbolizing protection and strength, while an American eagle soars above her. This imagery is surrounded by intricate scrollwork and flourishes, reflecting the artistry and craftsmanship of the period. The reverse also prominently displays the words "National Currency" and the denomination "Ten Dollars," ensuring the note's value is unmistakable.
Minted by the Bureau of Engraving and Printing, the production of the 1902 $10 National Bank Note involved advanced printing techniques. Intaglio printing was used to create the detailed and raised designs, which added both aesthetic appeal and security features to the notes. The paper used was a high-quality blend of cotton and linen, chosen for its durability and resistance to wear, ensuring that the notes could withstand extensive handling and circulation.
The mintage of National Bank Notes, including those from Topeka, KS, was a complex process regulated by the National Banking Act of 1863. This act allowed for the establishment of national banks and the issuance of National Bank Notes, which were backed by U.S. government bonds. Each bank was required to deposit these bonds with the Treasury, ensuring that the notes had solid backing and promoting trust in the currency. The National Bank of Topeka, like other national banks, issued these notes to facilitate local commerce and economic development.
The condition of this particular 1902 $10 National Bank Note is graded as Fine. Notes in this grade exhibit significant but honest wear from circulation, including multiple folds, creases, and possible minor tears. However, the overall integrity of the note is maintained, with key design elements such as McKinley's portrait, the bank's name, and the allegorical vignette on the reverse remaining clear and legible. For collectors, a note in Fine condition offers a balance between affordability and historical authenticity, showing the signs of its journey through countless transactions over the years.
The 1902 $10 National Bank Note from Topeka, Kansas, embodies the rich history of American currency. Its design, featuring William McKinley and allegorical imagery, reflects the values and achievements of the era. The craftsmanship and durability of the note highlight the advanced printing techniques and materials used in its production. Despite its wear, the note's condition adds to its character and historical authenticity, making it a cherished item for collectors and a tangible link to the economic landscape of the early 20th century.
This National Bank Note is a testament to the legacy of the national banking system in the United States. It represents a period of economic growth and stability, and the detailed design elements reflect the skill and artistry of the Bureau of Engraving and Printing. For those who appreciate the history of American currency, the 1902 $10 National Bank Note from Topeka, KS, is a valuable and informative piece, offering a direct connection to the financial practices and policies of the time.